Amundi Has $2.20 Million Stock Holdings in WEX Inc. $WEX

Amundi cut its holdings in WEX Inc. (NYSE:WEX) by 7.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 13,999 shares of the business services provider’s stock after selling 1,201 shares during the quarter. Amundi’s holdings in WEX were worth $2,198,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Earnest Partners LLC grew its position in shares of WEX by 2.6% in the 1st quarter. Earnest Partners LLC now owns 895,406 shares of the business services provider’s stock valued at $140,597,000 after purchasing an additional 22,672 shares during the period. Lyrical Asset Management LP grew its position in shares of WEX by 0.3% in the 1st quarter. Lyrical Asset Management LP now owns 826,188 shares of the business services provider’s stock valued at $129,728,000 after purchasing an additional 2,754 shares during the period. Hsbc Holdings PLC grew its position in shares of WEX by 20,412.8% in the 1st quarter. Hsbc Holdings PLC now owns 638,563 shares of the business services provider’s stock valued at $99,069,000 after purchasing an additional 635,450 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in shares of WEX by 79.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 381,767 shares of the business services provider’s stock valued at $59,945,000 after purchasing an additional 169,137 shares during the period. Finally, Sunriver Management LLC grew its position in shares of WEX by 75.9% in the 1st quarter. Sunriver Management LLC now owns 314,069 shares of the business services provider’s stock valued at $49,315,000 after purchasing an additional 135,490 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at WEX

In other news, COO Carlos Carriedo sold 875 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $171.68, for a total value of $150,220.00. Following the completion of the sale, the chief operating officer owned 5,270 shares of the company’s stock, valued at approximately $904,753.60. This represents a 14.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ann Elena Drew sold 1,931 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total value of $331,533.39. Following the completion of the sale, the insider directly owned 7,295 shares of the company’s stock, valued at approximately $1,252,478.55. The trade was a 20.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

WEX Trading Up 3.9%

NYSE WEX opened at $176.13 on Friday. The company has a market cap of $6.03 billion, a PE ratio of 22.27, a PEG ratio of 1.59 and a beta of 1.31. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.99. WEX Inc. has a 12 month low of $110.45 and a 12 month high of $217.47. The stock has a 50 day moving average of $166.52 and a 200-day moving average of $149.25.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WEX. Oppenheimer assumed coverage on WEX in a research report on Thursday, May 15th. They issued a “market perform” rating for the company. Barclays upped their price target on WEX from $135.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Monday, July 28th. Jefferies Financial Group upped their price target on WEX from $130.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, May 27th. Mizuho upped their price target on WEX from $150.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Finally, Robert W. Baird upped their price target on WEX from $186.00 to $198.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $179.82.

WEX Company Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.